PRHAX vs. PALDX
PRHAX (PGIM Muni High Income Fund) and PALDX (PGIM 60/40 Allocation Fund) are both mutual funds - PRHAX is a High Yield Muni fund managed by PGIM, while PALDX is a Diversified Portfolio fund managed by PGIM. Over the past 5 years, PRHAX returned 0.48%/yr vs 8.53%/yr for PALDX. Their 0.12 correlation means their historical movements had little consistent relationship. PRHAX charges 0.81%/yr vs 0.03%/yr for PALDX.
Performance
PRHAX vs. PALDX - Performance Comparison
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Returns By Period
In the year-to-date period, PRHAX achieves a 1.52% return, which is significantly lower than PALDX's 6.54% return.
PRHAX
- 1D
- -0.32%
- 1M
- -2.10%
- 6M
- 0.64%
- YTD
- 1.52%
- 1Y
- 6.05%
- 3Y*
- 4.58%
- 5Y*
- 0.48%
- 10Y*
- 2.30%
- ALL TIME*
- 4.78%
PALDX
- 1D
- 1.22%
- 1M
- -0.33%
- 6M
- 4.97%
- YTD
- 6.54%
- 1Y
- 15.23%
- 3Y*
- 14.79%
- 5Y*
- 8.53%
- 10Y*
- —
- ALL TIME*
- 9.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRHAX vs. PALDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRHAX PGIM Muni High Income Fund | 1.52% | 4.42% | 4.74% | 8.02% | -14.37% | 4.07% | 4.57% | 8.67% | 0.99% | 1.19% |
PALDX PGIM 60/40 Allocation Fund | 6.54% | 13.62% | 18.96% | 18.90% | -15.65% | 16.30% | 10.68% | 22.27% | -4.12% | 5.95% |
Correlation
The correlation between PRHAX and PALDX is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2017 | 0.12 |
The correlation between PRHAX and PALDX shifts across timeframes, from 0.12 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PRHAX vs. PALDX — Risk / Return Rank
PRHAX
PALDX
PRHAX vs. PALDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Muni High Income Fund (PRHAX) and PGIM 60/40 Allocation Fund (PALDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRHAX | PALDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.31 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.42 | -0.11 |
| Martin ratioReturn relative to average drawdown | 8.46 | 10.80 | -2.34 |
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Drawdowns
PRHAX vs. PALDX - Drawdown Comparison
The maximum PRHAX drawdown since its inception was -19.43%, smaller than the maximum PALDX drawdown of -26.16%. Use the drawdown chart below to compare losses from any high point for PRHAX and PALDX.
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Drawdown Indicators
| PRHAX | PALDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.43% | -26.16% | +6.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -5.96% | +2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -5.99% | -16.06% | +10.07% |
Max Drawdown (5Y)Largest decline over 5 years | -19.43% | -20.47% | +1.04% |
Max Drawdown (10Y)Largest decline over 10 years | -19.43% | — | — |
Current DrawdownCurrent decline from peak | -2.10% | -1.25% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -2.25% | -4.03% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 1.34% | -0.51% |
Volatility
PRHAX vs. PALDX - Volatility Comparison
The current volatility for PGIM Muni High Income Fund (PRHAX) is 1.00%, while PGIM 60/40 Allocation Fund (PALDX) has a volatility of 2.39%. This indicates that PRHAX experiences smaller price fluctuations and is considered to be less risky than PALDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRHAX | PALDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 2.39% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 6.95% | -4.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 8.59% | -5.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.03% | 12.20% | -7.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.10% | 12.65% | -7.55% |
PRHAX vs. PALDX - Expense Ratio Comparison
PRHAX has a 0.81% expense ratio, which is higher than PALDX's 0.03% expense ratio.
Dividends
PRHAX vs. PALDX - Dividend Comparison
PRHAX's dividend yield for the trailing twelve months is around 3.60%, less than PALDX's 5.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PALDX PGIM 60/40 Allocation Fund | 5.09% | 5.42% | 10.40% | 2.94% | 6.19% | 6.87% | 2.58% | 4.58% | 3.65% | 1.48% | 0.00% | 0.00% |
PRHAX PGIM Muni High Income Fund | 3.60% | 5.23% | 3.89% | 2.93% | 2.92% | 2.68% | 3.41% | 3.39% | 3.87% | 3.80% | 4.14% | 4.19% |
Frequently Asked Questions
PRHAX and PALDX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PALDX has higher volatility (2.39%) compared to PRHAX (1.00%). In terms of maximum drawdown, PRHAX dropped -19.43% vs PALDX's -26.16%.
PRHAX currently has the higher Sharpe Ratio (2.32 vs 1.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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